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Angjeff

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no credit card debt / 607 credit score / 48000 to 55000 income / 23 yo / Can I buy a $110,000 home
I am 23 years old. I have a 607 credit score. I make between 48000 and 55000 a year. I've been in the National Guard for 3.5 years but don't want to wait another 2.5 years to buy a house using the VA loan. I own two trucks and a couple recreational vehicles but bought them cash. I have no debt. What are my option if any?

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I totally agree with Addison on this one. I have an application from NACA in my file cabinet. A co-worker/friend recommended that I obtain a loan using their program as well. He purchased some property at an exceptionally low rate. The only other option out there that I believe would be helpful for you is an FHA loan. It usually requires 3% down of the value of the home you plan to finance plus closing costs. Also your score should be around a 630-640 to qualify. It takes a little bit of work but it can be acheived within a reasonable amount of time. Best of blessings and Happy House Hunting!

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You can get a home without a credit score.  Visit www dot naca dot com (if I put in the actual website Credit Karma holds my reply until they make sure I'm not sending a link to something unethical).  One of my co-workers is using them and she loves it.  4% interest rate, zero down and zero closing costs.

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My advice would be to hang in there for 2 more years and take the VA loan. With a 607 score, you are going to be hard-pressed to get a decent rate without a substantial amount down. I would add a couple of Credit cards to help improve your score and let them "mature", that is, age a little before applying for the VA loan.

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